Kumari Bank Limited invites sealed proposal

Kumari Bank Limited invites sealed proposal from registered and eligible National/ International firms/companies, for "Implementation Solutions for Nepal Financial Reporting Standards (NFRS) 9 for Kumari Bank Limited." Terms and Conditions: 

1. RFP Documents with detailed scope of Works and Terms & Conditions shall be provided upon submission of official request letter to General Administration Department, Kumari Bank Limited at Tangal, Kathmandu, Nepal. International bidders may request the RFP documents via their official email by official request letter to [email protected] 

2. Sealed Proposals should be submitted to Kumari Bank Limited at Tangal, Kathmandu, Nepal, not later than 7th April, 2024 (Chaitra 25, 2080). In case the last date of submission falls on a government holiday then submission can be done on the next working day. 

3. The nonrefundable Bid Document Fee of NPR 5,000 or USD 45 should be deposited in below mentioned account details:

4. Documents received after the deadline of submission will not be considered for further evaluation. 

5. Bid bond need to be of 10% of the total bid amount with validity of 1 year. 

6. Performance Guarantee need to be of 10% of total contract price with validity of 2 years. 

7. Eligibility Criteria for bidders are as below: 

a. The bidder must be in existence for a minimum period of last 5 (five) years; 

b. The bidder should have sufficient capacity to execute the work with respect to personnel and technical competence; 

c. The bidder should have designed, developed and implemented the similar solution before in at least 5 Bank and Financial Institutions whether in South East Asia, Middle East or other Countries with added advantage to vendor's specialization in IFRS advisory solutions. 

d. The bidder must be a financially sound institution; 

e. Foreign bidder should have local firm/ company of Nepal appointed as the supporting partner in its implementation team and provide proof of document. 

8. The detailed scopes of work and terms & conditions can be found in Request for Proposal (RFP) document. 

9. The Bank at its Sole discretion reserves the rights to accept or reject the "Bids" received from the  bidders, wholly or partly; any or all the bids and is not liable to accept the lowest bid, without assigning reason whatsoever.